China's gross domestic product grew by 4.
05 Jun 2023, 08:59
ā¹ China's gross domestic product grew by 4.5% in the first quarter of 2023, driven by strong growth in exports, infrastructure investment, retail consumption, and property prices.
Although the growth rate was below the government's target of 5%, economists expect it to pick up pace as the year progresses.
The recovery in China's economy is crucial for global economic growth this year. However, the situation remains complex and volatile, and the foundation for economic recovery is not yet solid.
While manufacturing investment rose 7%, private investment only increased by 0.6%, pointing to a decline in March.
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